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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release February 9, 1967 H.lf.l The average of daily figures of total member bank reserves held during the week ended February 8, decreased a net of $^9 million to $23,856 million. Estimated currency and coin of member banks decreased $^51 million and their reserve balances at the Federal Reserve Banks increased $402 million. Estimated required reserves decreased $32 million; and estimated excess reserves decreased $17 million to $308 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $^5 million, the week before they were $1^-9 million less than excess reserves. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $230 million in U. S. Government securities bought outright, $2(A million in U. S. Government securities held under repurchase agreements, and $177 million in member bank borrowings, and a decrease of $150 million in Treasury deposits with Federal Reserve Banks. The principal offsetting change was a decrease of $250 million in Federal Reserve float. Total Reserve Bank credit increased $^1^ million. As of Wednesday, February 8, 1967, holdings of U. S. Government securi ties bought outright were $298 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $551 million higher, and member bank borrowings were $76^ million higher. Average of daily figures Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U. S. Government securitiesBought outright--System account Held under repurchase agreements Federal Agency obligationsHeld under repurchase agreements AcceptancesBought outright Held under repurchase agreements Discounts and advances— Member bank borrowings Other Float Total Reserve Bank credit Gold stock Treasury currency outstanding Currency in circulation Treasury cash holdings Treasury deposits with F. R. Banks Foreign deposits with F. R. Banks Other deposits with F. R. Banks Other F. R. accounts (net) Member bank reserves: With Federal Reserve Banks Currency and coin (estimated) Total reserves held Required reserves (estimated) Excess reserves (estimated) Week ended !Change from week ended Feb. 8, i Feb. 1, Feb. 9, 1966 1967 1 1967 (In millions of dollars) 1+3,928 204 +230 +204 +3,220 - 205 Wednesday, Feb. 8, 1967 ^3,987 551 3 76 50 + 1 + 50 4 8 76 353 1 +177 + 1 -250 +4l4 - 150 19 + 346 +3,205 - 575 + 746 +3,376 827 -2,342 j 4f,836 13,159 6,39^ 67,389 + 58 + 10 -150 + 7 + 51 + 49 + 25 +2,209 1+3, 596 20,056 3,800 23,856 23,548 +14-02 -451 - 49 308 - 17 2,017 116,630 13,159 6,392 66,181 1+3,2+05 1,252 448 lU-5 ^82 393 46,125 — + l4 +1+27 - 32 50 1,262 1+89 + 419 - +31 + 247 135 448 - 320 +2,117 1+38 46,368 +1,260 21,021 4,113 25,134 . 23,468 1 1,666 7 + 273 +1,533 +1,569 36 On February 8, 1967, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,275 million, an increase of $70 million for the week and a decrease of $631 million from the comparable date a year a^o. H. 4. 1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Feb. 9, Feb. 8, Feb 1, 1067 , 1Q66 1067 ASSETS - 858 10,838 Gold certificate account ._ 6 1.834 + 103 Redemption fund for F. R. notes Total gold certificate reserves 6 12,672 - 755 Cash (915) + 175 3 3^7 + 764 827 + 384 Discounts and advances Acceptances: + 2 76 + 3 Bought outright • lk 50 50 Held under repurchase agreements Federal Agency obligations— Held under repurchase agreements U. S. Government securities: Bought outright-Bills 12,135 *" 298 +2,836 Certificates 4,351 " +^351 Notes 21,302 — -3,526 Bonds 6,199 n - 351 Total bought outright 43,987 + 298 +3,310 Held under repurchase agreements 551 + 551 + 164 Total U. S. Government securities 44,538 + 849 +3»4?4 Total loans and securities 45 £94 +1,668 +3,878 Cash items in process of collection (l,ll6) 7,151 14 + 913 Bank premises 107 -+ 5 Other assets l/ l,04l 27 + 396 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,031) 66,812 +I,6l8 +4,6l2 L I A B I L I T I E S Federal Reserve notes (915) 38,324 ■ 234 +1,943 Deposits: Member bank reserves 21,021 +2,057 +2,757 U. S. Treasurer--general account - 436 - 105 489 Foreign 7 135 - 17 + 214 448 + 17 Other 2/ Total deposits +1,952 +2,528 22 ,093 Deferred availability cash items (l,ll6) 4,809 - 623 + 9 Other liabilities and accrued dividends 24l + 19 ± 5.5 TOTAL LIABILITIES (2,031) 65,467 +1,582 +4,535 C A P I T A L A C C O U N T S 17 573 Capital paid in 570 • 19 Surplus 202 36 Other capital accounts 41 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) - 3.6$ .1* 32.3 Contingent liability on acceptances purchased 181 for foreign correspondents + 43 + 9 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes assets denominated in foreign currencies and IMF gold deposited. 2/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 8, 1967 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Discounts and advances Within 15 days 823 16 days to 90 days 4 91 days to 1 year ~~ Over 1 year to 5 years — Over 5 years to 10 years — Over 10 years „ Total 827 U, S. Government securities and Federal Agency obligations Acceptances Holdings Weekly changes 67 5,287 +569 59 5,700 + 85 — 24,703 +198 — 7,458 -991 „ 1IQ2 126 44,541 7852 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 8, 1967 HA.l(b) Total Boston New York Phila-i Cleve- RichAtlanta Chicago delphia land mond (In millions of d o l l a r s ) St. Louis Minne apolis Kansas Dallas City San Fran cisco ASSETS j 10,838 < Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves j 12,672; F. R. notes of other Banks Other cash 1 Disccunts and advances Acceptances: Bought outright Held under repurchase agreements Federal Agency obligations— Held under repurchase agreements U. S. Government securities: Bought outright-Bills Certificates Notes Bonds Total Held under repurchase agreements 915 i 1 827^ ! 76; I 3! 588 .301. 689 895 15..4_„. 602 __1Q2. 1,049 1,086 704 75 12 217 62 9 122 4o 73 20 86 ^3 22 125 6 15 30 57 2,339 3ko_ 2,679 88 50 342 63- 260 __32~. 405: 292 26 17 32 313 45 431 £i- 1,405 —218.- 492 1,623 20 17 48 20 81 38 33 9 218 476 486 1,705 426 .—32498 76 50 I 12,135 4,351 ! 2l,302 646 231 1,132 3,159 1,133 5,545 615 220 1,079 43,987 2,339 11,451 2,228 iiji'Og 2,228 JJ-21....1.24J 2^410 6^..jL^J|e__^_.85S_-Jul2k.._. i-tTil. 6,179 12,256 2,231+ 3,503 3,262 2,44o 7,056 4i3 3 42 1,647 9 4.29 454 3 587 5 _I0_ 656 6 672 l,378 68,843! 3,595 17,017 3,543 55lJ Cash items in process of collection Bank premises Other assets l/ ! \ I ! 8,267 107 2^£k.11 964 346 1,694 _3lL ™.Ji9X 3,497 --. j 45,494, 2,361 5,393 Includes assets denominated in foreign currencies and IMF gold deposited. 932 ._15k 736 Total loans and securities l/ 64o 2,4i9 Total U. S. Government securities TOTAL ASSETS 1,978 896 321 664 239 1,167 1,860 427 667 153 3,266 750 l, 573 ..._34o. ..__2£0 2lJ3. JiZL. 2,410 6,743 1,546 3,247 5,156 20 4j 19 122 4,012 11,392 1,593 437 9 2,531 237 85 4l5 121 858 863 254 3 -.17... 1,455 170 175 611 835 854 2,992 .....243. _2lg. .,.„.. azi-.. 1,724 1,763 6,179 1,757 1,772 534 11 438 10 6,397 797 9 114 2,871 2,819 9,059 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 8, 1967 Total Boston New York Phila delphia Cleve land Rich I (Atlanta Chicago mond St. Louis Minne apolis Kansas Dallas City San Fran cisco 1,243 4,544 (in millions of dollars) L I A B I L I T I E S 1 Federal Reserve notes 39,239 Deposits: Member bank reserves 21,021 U. S. Treasurer--general account 489 Foreign 135 448 Other Total deposits 22,u93 Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 2,344 9,111 2,232 3,232 3,598 2,228 7,104 1,436 691 1,476 809 47 7 1 864 6,127 , 98 1/ 28 2/364 861 41 8 1 1,510 28 13 * 1,551 2,984 13 21 2 3,020 495 12 3 1 911 1,121 17 9 3 1,150 690 19 5 1 6,617 928 63 8 8 1,007 715 l,io4 37 8 1 1,150 3,507 80 19 63 3,669 5,925 311 865 318 473 461 540 1,032 327 511 217 885 34 6 3 928 4oo 343 638 241 67,498 11 3,530 74 16,667 11 3,472 18 5,274 17 5,083 13 3,931 36 11,192 7 2,485 5 1,424 9 2,813 9 2,745 3.1 8,882 27 27 11 149 148 53 30 30 11 51 51 17 30 30 13 35 35 11 84 83 33 20 20 6 14 14 3 26 25 7 33 33 8 74 74 29 68,843 3,595 17,017 3,543 5,393 5,156 4,012 11,392 2,531 1,455 2,871 2,819 9,059 181 9 3/ *7 9 16 10 11 26 6 4 8 11 24 CAPTIAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on accept ances purchased for foreign correspondents 573 570 i 202 FEPERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 41,371 2,433 6,750 l 36,326 500 43,077 9,590 2,305 3,508 3,729 2,368 7,469 1,505 721 1,539 1,336 4,868 600 74o 450 i,4oo 310 127 225 180 735 2,016 483 1 8,900 2,000 3,000 3,o35 2,050 6,150 1,310 l,4oo 1,230 4,6oo 2,516 9,900 3,600 3,775 2,500 7,550 1,620 635 762 1,625 l,4io 5,335 1,000 2,484 l/ After deducting ^107 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. 3/ After deducting $l^k million participations of other Federal Reserve Banks, * Less than ^500,000.
@FedFRASER